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Federal credit agencies
The mission of the United States Department of Agriculture Farm service agency is to stabilize farm income, help farmers cause of land and water resources, provide credit to new on disadvantaged farmers and ranchers, and help fund operations recover from the effects of disaster.
The Farm service agency was set up when the department was set up in 1994 from several agencies including the agricultural stabilization and conservation service, the federal crop insurance Corporation and the farmers home administration. Farmers who are eligible to participate in these programs elect a three to five person county committee which reviews county office operations and make decisions on how to apply to programs.
Farm credit system (FCS). The Farm credit system specializes in providing credit and related services to farmers, ranchers, and producers or harvesters of aquatic products. Loans may also be made to finance the processing and marketing activities of these borrowers. All of Farm credit system banks and associations of government by the board of directors elected by the stockholders, or a farmer borrowers of each institution.
Financing Corp.(FICO) The financing Corporation was created by the Federal home loan Bank Board in 1987 to help resolve the crisis created by the widespread collapse of the savings and loans. The purpose of the agency was to stabilize and recapitalize the FSLIC which has virtually exhausted its funds and was at the point of bankruptcy. Financing Corporation is authorized to issue bonds. The proceeds of the bones were to be used by the FSLIC to resort the savings and loans insolvencies. |